NEW YORK, Sept. 8, 2020 /PRNewswire/ -- Nuveen Executive Chairman Vijay Advani will retire at year end in a planned transition that will allow him to focus full time on his passions for responsible investing, the use of artificial intelligence in asset management and government policy.
Mr. Advani joined Nuveen in 2016 as Chief Operating Officer and was elevated to Chief Executive Officer the following year. He moved into the Executive Chairman role this past January when Jose Minaya was named CEO and agreed to remain in that role during Mr. Minaya's first year of leading the firm.
Upon retiring, Mr. Advani plans to consult for entrepreneurial and specialty firms to develop their environmental, social and corporate governance (ESG) and impact investing and artificial intelligence (AI) capabilities. He will also seek to increase uptake of responsible investing principles and practices via board roles.
"Vijay put Nuveen in the strongest possible position to continue meeting the diverse and complex needs of our clients while also leading our efforts to grow in new markets around the globe," said Mr. Minaya. "His contributions to Nuveen, to our parent TIAA and to me personally over the last few years have been invaluable."
As CEO, Mr. Advani oversaw the continued growth of Nuveen's global asset management business, capabilities and investment products, including the increase of assets under management to over $1 trillion. The firm posted positive organic growth in 2018 and 2019 amid broad industry outflows, further integrated its platform of investment specialists, centralized shared services and began offering its capabilities under a newly established brand, Nuveen, a TIAA company. Mr. Advani also established Nuveen Labs, a specialist team that employs artificial intelligence, machine learning, analytics, and Big Data to enhance Nuveen's investment processes and develop proprietary data measurement and metrics for responsible and impact investing.
"It has been an amazing honor and my proudest professional accomplishment to help lead Nuveen," said Mr. Advani. "This company has amazingly talented people and a breadth of private and public market capabilities unlike any other serving our clients and the world we live in. As I transition to my new life, I do so confident that Nuveen is poised for even greater things under the excellent leadership of my colleague and friend Jose Minaya."
Roger W. Ferguson Jr., President and CEO of TIAA, added: "Under Vijay's leadership, Nuveen ascended to the top tier of global asset managers and expanded its reach to help an increasingly diverse array of clients. And as he approaches retirement, his smooth and orderly transition of his responsibilities to Jose completes our leadership succession planning for Nuveen, which remains foundational to TIAA's mission and growth. I thank Vijay for his many contributions."
Mr. Advani serves on the board of the Global Impact Investing Network and is an advisory board member for The Hive Incubator in Palo Alto, California. He is on the Board of Governors of the Investment Company Institute and is a charter member of TiE Silicon Valley, which connects tech start-ups with sources of investment capital and executive expertise. He previously served on the board of FCLTGlobal, a non-profit that seeks to focus institutional investing on long-term societal benefits. Mr. Advani was also recently named Chairman the U.S.-India Business Council.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. Nuveen has $1 trillion in assets under management as of 30 June 2020 and operations in 27 countries. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
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Jessica Greaney
Nuveen Media Relations
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SOURCE Nuveen
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